You're right, high demand certainly plays a role. But it's one thing for the second-hand market to dictate the price of used hardware, and another for new hardware to steadily get more expensive while its objective capabilities only see marginal improvements. At a certain point it becomes blatant price gouging.

NVIDIA is also taking consumers for a ride by marketing performance based on frame generation, while trying to downplay and straight up silence anyone who points out that their flagship cards still struggle to deliver a steady 4K@60 without it. Their attempts to control the narrative of media outlets like Gamers Nexus should be illegal, and fined appropriately. Why we haven't seen class-action lawsuits for this in multiple jurisdictions is beyond me.